Blue Pool Capital, others said to have invested in DatViet's IPO
Blue Pool Capital, the investment arm of Alibaba co-founder and chairman Joseph Tsai, along with other fund managers, is understood to have subscribed to the initial public offering of Vietnam-based entertainment firm DatViet.
Blue Pool has joined Thailand’s BBL Asset Management, Vietnam’s Phoenix Holdings and several other investors in the offering, which is set to close on September 7, according to sources familiar with the matter.
The sale is 90% booked, and is expected to comprise roughly equal proportions of institutional and retail investors once completed, the sources said.
With DatViet’s listing slated for October 23, the IPO could provide a potential exit opportunity for some of its early investors, including UOB Venture Management and YF Capital, the family office of Alibaba co-founder Jack Ma.
DatViet began offering 11.15 million shares last month, equivalent to a 10% post-IPO stake, targeting proceeds of 611 billion Vietnamese dong ($23.4 million).
The company plans to use the proceeds to invest in talent development and fandom platforms, an approach similar to Weverse, the fan platform operated by Hybe Corporation, the South Korean entertainment company behind K-Pop band BTS, DealStreetAsia has learnt.
Blue Pool, which has invested in a range of intellectual property-driven businesses globally, including the Miami Dolphins, Brooklyn Nets and 88rising, is expected to bring strategic expertise in technology, entertainment know-how and global networks.
The Hong Kong-based investment firm recently raised about $1.4 billion for its debut private equity fund.
DatViet is also seeking to capitalise on a growing trend of leveraging intellectual property (IP) as a form of media infrastructure. Investment in IP-based entertainment businesses has been gaining traction across Asia, supported by mobile-first content distribution, platform-led commerce and rising consumer spending.
The company is behind some of Vietnam’s most popular entertainment franchises, including Rap Viet, The Masked Singer franchise and “Say Hi”.
It recorded about 3.2 trillion dong in net revenue in 2025, resulting in a net profit of 379 billion dong. This year, the firm expects to generate almost 3.4 trillion dong in revenue and 420 billion dong in net profit.
The group has around 270 million followers across digital platforms, generating 67 billion views annually, alongside a library of more than 2,000 protected intellectual property assets.
Artist commercialisation generated around 560 billion dong in revenue in 2025. DatViet aims to increase that to around 1.5 trillion dong by 2030, representing a compound annual growth rate of about 22% per year.
From the fourth quarter of 2026, the company plans to launch an artist development joint venture, allowing it to participate more deeply in training, image development, music, concerts and artist-related IP.
Source: DealStreetAsia
